In 1955, William Martin Jr, Chair of the US Federal Reserve (1951–1970), coined the phrase ‘removing the punch bowl’ in central banking. It describes the responsibilities of central banks to restrain wayward monetary expansion. Kenya’s gluttony dates to 1992, the first multiparty elections held in 26 years.
The 2027 playbook is similar. High-stakes power games driven by money set reformists against a severely hobbled government feeding hardliners, protecting their influence and wealth. The brazen wrecking of the economy ignores competent advice.
